Letters out - now what?

[coolhuh]

Thanks for the info.  I am very new at this and am doing all the research I can before jumping in.

[rkmin]

AZNEWBIE Wrote:

[I have enclosed with this letter, a list of options that are available to homeowners facing foreclosure to inform you of ways you can save your property.]

What are the options that you list in the enclosed letter?  How do you word them?  Thanks.

[rhm76384]

Hey,
     Excuse my ignorance of your particular area but what does NOS stand for? I'm thinking it stands for Notice of Sale or Suit. If so, it is not in pre-foreclosure any longer but is in foreclosure. Pre-foreclosure is that stage, to my understanding, between deliquency with it's demand letter and the actual filing at the courthouse of the foreclosure notice. Unless you have an in with the lender or the lender's attornies (sp?) it is difficult to get any pre-foreclosure info as the cousin realtor stated. This is IMHO.
Peace,
Richard

[Thoward]

The options are still the same, just less time to do it.

Actually, there have been only two real options all along

1. Lose the house (either to the lender or someone else)

2. Keep the house (pay all the back due and fees, loan modification or forebearance)

Everything is just a variation of one of these two options.

How do you go about the process of providing a loan modification or forebearance for the HO? I keep hearing the term but CAN'T FIND ANY INFORMATION ON IT!!! :   Is this something that you need an "IN" with the bank to take care of or is it just a package that needs to be filled out and faxed back to the bank?

[TNinvestor]

To negoiate with the lender on behalf of the homeowner you need to have the homeowner sign an Authorization to Release Information form. You fax it to the loss mit department of the lender. You need to find out who actually has the file, give them a call and the game of negotiating begins. Some lenders are easy to work with....others are an absolute pain.

For those that might need them, here is a list of loss mit phone numbers:

Ameriquest
800-211-6926
CitiMortgage Inc.
636-256-5088
Wells Fargo Loss Mitigation
866-261-5642
Bank of America
716-635-2982
CitiFinancial Mortgage
800-422-1498
Household Mortgage
800-395-4489
Household Finance
800-333-5848
OCWEN
800-746-2936
Citymortgage
866-558-3662.
GMAC
800-850-4622
800-766-4622
Ditech
800-852-0656
800-449-8582
Washington Mutual
888 456-5353:
Countrywide
888-453-3102
Chase ManhattanMortgage Corp
800-446-8939 x 3553
US BANK
888-780-3997
Greentree
877-816-9125
Homecommings 800-206-2901
858-874-7417

Wells Fargo 877-216-8448

Chase Manhattan 800-446-8939

National City Mortgage
1-800-367-9305 x54949
www.nationalcitymortgage.com
(hardship pkg is on their website)